THE BEST TIME TO SELL A HOUSE
It’s a common misconception that spring and summer is always the best time to sell a house.
In truth, there are more important rules of thumb to take into consideration, including your choice of real estate agent.
There have been numerous studies and statistics published on which is the best month to sell a house. February and September for example, can often have more buyer activity.
Although a sunny day and blooming garden can give properties a lift, the downside is that with so many people listing at this time, there is increased competition for buyer dollars.
Other factors that affect the best time to sell a house are changes to lending policies, interest rates, economic developments in your area and new or amended Government policies. These can all influence the buyer market and therefore, opportunities for you as a seller. (More on all this below).
In truth there are pros and cons to every season and contrary to popular opinion, winter can actually be a good time to list. There are several things you can do to bring out your home’s winter appeal, and we also go into this in more detail below.
Agent Finder research on the best time to sell a house
Agent Finder New Zealand has been tracking and monitoring real estate listings for a decade. Our research shows that properties that ended up listed for sale a second time around were not stalling because it was the ‘wrong’ time of year.
Instead, a lack of sale stemmed from things such as being ill-prepared or poor decision-making. Some homes had structural issues and needed an agent with a high level of real estate experience, legal and technical knowledge.
The most important factor in selling your house
The most important factor to any property sale is how you go to market, and choosing the right real estate agent is paramount.
To get top dollar you need an agent who is competent at managing and negotiating a property sale, and one who is right for your type of property.
Doing pre-market due diligence is also key to getting your home or other property sold for the best possible price in a good time frame.
Day One on the market is the most important one in terms of attracting buyer attention, so you need to have all your ducks lined up in order to launch in the best possible position. GET THE BUYING AND SELLING A HOUSE CHECKLIST
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SPRING 2018 HAS ALMOST SPRUNG
If you are ready to go to market now, don’t wait until spring is in full swing and then rush your real estate decisions. Start getting sorted now so you have time to get properly prepared.
If you need help finding the best real estate agents, request a shortlist from us. We vet real estate agents and provide advice about commission and fees - and it's a 100 per cent free service. REQUEST AN AGENT SHORTLIST
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NEED TO SELL YOUR HOUSE FAST?
You don’t always get to choose when to sell up if you're on a job transfer or have purchased a house before you planned to (whoops).
You may need to sell your house fast but are concerned about the time of year and possibly having to settle for a lower price. You could be thinking about renting your house so you can wait for that ‘perfect month’ down the track.
We can help you come to a decision on the best solution, as there are issues to consider either way. For free advice about the best time sell your house, connect with us now via Live Chat. Our service is 100 per cent free to sellers.
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Seasonal pros and cons affecting the best time of year to sell a home
- * Summer is considered the best time to sell a holiday home as holiday makers are out and about on the roads.
- * Summer is also a good time to sell a lifestyle block, with drier ground underfoot, and brighter greenery.
- * For summer sales, take into account holiday season office hours. Law firms wind down in December and may run on skeleton staffing in January. Best to start preparing in September/October to allow time.
- * Autumn and winter often have fewer houses for sale, and therefore less competition from other properties.
- * Winter sun, home insulation and solar panels can be a real buyer magnet.
- * Cold New Zealand winters can motivate people to up-spec to warmer, insulated homes and winter/spring is often the time when they start looking.
Home staging attracts more buyers at all times of the year
Home staging is a must all year around, and can add 10-15 per cent onto the sale price (as reported by real estate agents).
It’s a relatively easy way to add value, and buyers will often pay more to get a house they have fallen for.
This can mean buyers competing against each other, putting the bargaining power on your side rather than that of a single buyer.
Government and bank policy changes
The best time to sell a property can be dictated by Government and bank policies – true whether you are an investor or buying and selling a home. For instance:
NEW RENTAL PROPERTY INSULATION POLICY
By July 2019, landlords must have their properties insulated to the new Government standard. The fine for failure to comply is $4000 which will go to their tenants.
This may compel investors who can’t afford to insulate or don’t want the hassle to sell up, putting more houses on the market for the first half of 2019.
You can attract investor buyers looking for a better option by ensuring your home is well insulated before you put it on the market.
INTEREST RATE CHANGES
Interest rate reductions can stimulate buyer activity and this is a time when investors will add to their portfolios.
First home buyer activity is affected by loan to value ratios (LVR) and minimum deposit bank policies. A change in these can see your house fit into the first home buyer market, and create considerable interest from these motivated buyers.
A winter sale
For many, gardens are often less spectacular in winter so if that's the case, focus on making the presentation inside your home as beautiful as possible.
Home staging is crucial to bring out the interior appeal. You can do this at no cost by decluttering and putting your investor hat on. Remember, you are creating a buyer's house, not a seller's house.
Advantages to home staging and selling in winter can include the opportunity to show off features like a hearty log or gas fire and tasteful lighting that enhances mood. A big vase of fresh, fragrant flowers on the dining table will not only create a focal point, but provide an uplifting ambience.
Winter will lend itself to talking points, such as solar hot water or solar electric panels, any energy saving features such as double glazing and insulation or updated heating systems.
If your home is positioned well for winter sun, this will be a selling point.
For more ideas about selling in winter, including simple things to lift curb-side appeal, see Winter can be the best time to sell a house. Make sure you come back and take advantage of our genuinely free service. If you're still not sure, get in touch - phone or email us - it won't cost you a thing!
UPSHOT ABOUT THE BEST TIME TO SELL A HOUSE
The biggest influence is not the season but:
- * your choice of agent
- * their performance
- * your decisions
- * what you do (or don't do) to prepare your home.
Due diligence before going to market is essential:
- * How much is your house worth to sell now?
- * Do you know how to compare real estate appraisals?
- * How can you judge the accuracy of a real estate valuation?
- * How do you negotiate real estate commission and fees?
- * Do you know what a good marketing plan looks like?
- * What makes a good real estate agent, for your property type?
Most people aren’t real estate experts. Selling a house can be complex, and things can go pear shaped and lead to disappointment and financial loss.
Agent Finder can take the stress out and help reduce the risk to sellers.
If you need any advice, get in touch now.
Other popular articles:
- Why day one on the market is your most important day of all
- How to find the best real estate agent to sell a house
- Warning bells before you list with an agency
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